News
7x24
Quotes
Economic Calendar
Video
Data
- Names
- Latest
- Prev.
Sterling Could Face Renewed Selling Pressure After a Rejection at Local Resistance
Economic
Central Bank
Summary:
A rejection from the current resistance area could push both components of the MACD into bearish territory, aligning the oscillators with the downside scenario and potentially allowing the downward move to resume.
Sell
TradingGBPUSD
EXP
1.34044
Entry Price
1.32110
TP
1.34750
SL
1.34592 +0.00462 +0.34%
0
Point
Flat
1.32110
TP
CLOSING
1.34044
Entry Price
1.34750
SL
UK Nationwide House Prices remained unchanged in October, according to data released on Friday, outperforming market expectations of a 0.2% contraction and improving from the 0.3% decline recorded in September.
Investors have now shifted their attention toward the Bank of England, which is scheduled to announce its monetary policy decision next week. Recent macroeconomic data indicate that the UK economy continues to expand, while inflation remains considerably above the central bank's target. This combination has led markets to price in almost entirely a 25-basis-point interest rate increase at next week's meeting.
Thursday's Gross Domestic Product (GDP) report showed that the economy grew at an annualized rate of 3.4% in the third quarter, compared with 2.2% in the previous quarter. However, concerns remain over the potential impact of lower returns on AI investments, as companies could respond by reducing their spending, potentially slowing economic growth.
Meanwhile, the Federal Open Market Committee (FOMC) voted 10-2 on Wednesday to keep interest rates unchanged within the 3.75%–4.00% range. Fed Governor Lisa Cook and Cleveland Fed President Beth Hammack supported a 25-basis-point (bps) rate increase. Fed Chair Kevin Warsh reiterated his commitment to price stability, stating that "although overall financial conditions are more restrictive, I am not willing or able to characterize them as restrictive."
Inflation also remains above the Federal Reserve's 2% target. Data released on Thursday showed that the headline Personal Consumption Expenditures (PCE) Price Index increased by 0.5% month over month and 3.6% year over year in September. Meanwhile, the core measure rose by 0.3% on a monthly basis and 3.1% compared with the same period last year.
Technical Analysis
GBPUSD moved lower after briefly breaking above the descending trendline, which converges with local resistance at 1.34041. This area was also rejected in mid-September, triggering a decline that eventually took the pound toward its local lows. Therefore, if the pair experiences another solid bearish reaction and quickly moves back below the descending trendline, a more extended decline could follow, potentially taking the price toward the local support area at 1.3208. Meanwhile, the 100- and 200-period moving averages are located at 1.3308 and 1.3299, respectively, and could provide dynamic support as the pair moves lower.
Looking at the oscillators, the RSI temporarily climbed to 69.68, approaching overbought territory and suggesting that the current advance could be vulnerable to a pullback. At the same time, the MACD is showing a bullish histogram that is beginning to lose depth, while its signal lines remain slightly above the neutral level. A rejection from the current resistance area could push both components of the MACD into bearish territory, aligning the oscillators with the downside scenario and potentially allowing the downward move to resume.
Trading Recommendations
Trading direction: Sell
Entry price: 1.3400
Target price: 1.3211
Stop loss: 1.3475
Validity: Nov 10, 2026 15:00:00
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2026 FastBull Ltd
Home News Columns 7x24 Economic Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.